Washington Post Co

Washington Post Co., owner of the namesake newspaper and rural cable-television systems, said it may be interested in buying cable assets from AT&T Corp. and Adelphia Communications Corp. The company has subscribers in Iowa, Idaho and other states where Adelphia or AT&T may sell cable systems, Tom Might, chief executive of Washington Post's Cable One unit, said in an interview. Cable One is the ninth-biggest U.S. cable company. AT&T and Adelphia, the No. 1 and No.

In a surprise move, Amazon founder and Chief Executive Jeff Bezos has agreed to buy the Washington Post and other properties for $250 million. The deal is being made by Bezos alone, without involvement from Seattle-based Amazon. Donald Graham, chairman and CEO of Washington Post Co., said the board of directors decided to sell the company's newspaper publishing business "only after years of familiar newspaper-industry challenges made us wonder if there might be another owner who would be better for the Post.

The company said it has agreed to sell its Florida cellular telephone operations to McCaw Communications Cos. It would not reveal the sale price, but a calculation of the price paid by McCaw for each potential subscriber indicated that it was in excess of $200 million. The sale of the Florida properties, which is expected to produce an after-tax gain of about $110 million, must be approved by the Federal Communications Commission.

Amazon.com founder Jeffrey Bezos, who revolutionized the book business, is now aiming to do the same with one of the nation's most storied newspapers. The Seattle billionaire has agreed to purchase the Washington Post for $250 million, saying Monday that he was "very optimistic" about the paper's future. The Post, like the newspaper industry as a whole, has been beset by a rapid decline in print advertising, a loss of subscribers and challenges in building up online revenue. In a letter to Post employees, Bezos indicated that he wouldn't make radical changes in editorial operations and would continue to emphasize accountability journalism.

Microsoft Corp. sold its popular Slate online magazine Tuesday to Washington Post Co., a move that makes Slate's political commentary and quirky feature articles more broadly available across the Internet. Terms of the deal were not disclosed, though Slate editor Jacob Weisberg said the amount was "a very respectable, impressive price." Microsoft has said Slate, with about 6 million readers monthly, breaks even financially but isn't consistently profitable.

2 Cable Companies Agree to Swap Systems: The deal between Post-Newsweek Cable and Tele-Communications Inc. would provide each company with a presence in markets that better fit their corporate strategies, the companies said. No money will be involved in the exchange of properties, which is likely to take place next year, said John Morse, a spokesman for the Washington Post Co., parent of Post-Newsweek Cable.

Donald E. Graham will become president and chief executive of the Washington Post Co. on May 9, the newspaper and magazine publishing company announced Thursday. As chief executive, Graham, 45, succeeds his mother, Katharine Graham, who has been chairman and chief executive since May, 1973. Katharine Graham, 73, will remain chairman. Alan G. Spoon will become executive vice president and chief operating officer.

Sidney Harman, founder of Harman International Industries Inc., agreed to buy Newsweek magazine from Washington Post Co., ending a three-month bidding process for the money-losing publication. The terms of the deal weren't disclosed. The sale will not have a material effect on Post, the company said in a statement Monday. Post will retain pension assets and liabilities and certain employee obligations. "In seeking a buyer for Newsweek, we wanted someone who feels as strongly as we do about the importance of quality journalism," Donald E. Graham, chairman and chief executive of Post, said in a statement.

Before Sarah Palin stepped on the story, the talk of the Beltway was Salongate at the Washington Post. The venerable newspaper hatched a scheme whereby it would hold a series of "salons" at the home of the publisher, Katharine Weymouth, in order to sell lobbyists and corporations access to Obama administration officials and the Post reporters and editors who cover them. "Bring your organization's CEO or executive director literally to the table," read a flier for the first event.

The Washington Post's publisher abruptly canceled a series of policy dinners Thursday that were to have been underwritten by lobbyists or corporations willing to pay thousands of dollars to be in the same room as journalists and lawmakers, saying the marketing department had misrepresented the newspaper's intent. Lawmakers who had been invited said they were not told the events would make money for the newspaper.

Microsoft Corp. sold its popular Slate online magazine Tuesday to Washington Post Co., a move that makes Slate's political commentary and quirky feature articles more broadly available across the Internet. Terms of the deal were not disclosed, though Slate editor Jacob Weisberg said the amount was "a very respectable, impressive price." Microsoft has said Slate, with about 6 million readers monthly, breaks even financially but isn't consistently profitable.

Melinda French Gates, the wife of Microsoft Corp. Chairman Bill Gates, was elected to the board of directors of Washington Post Co., the company said Thursday. The addition of Gates brings the size of the board to 10. The board has several high-profile figures from the business world, including Warren E. Buffett and former Hollywood mogul Barry Diller. Along with her husband, Melinda Gates is co-founder of the Bill and Melinda Gates Foundation, a health and educational charity.

The New York Times initially spiked two columns that dissented from its editorial stand that Tiger Woods should boycott the Masters. Don Graham, the chairman of the Washington Post Co., which owns the Washington Post, was quoted by the Washingtonian magazine as telling sports editor George Solomon: "I have to remember to tell [Post sports columnist] Mike Wilbon not to disagree with our editorial policy on Iraq."

Melinda French Gates, the wife of Microsoft Corp. Chairman Bill Gates, was elected to the board of directors of Washington Post Co., the company said Thursday. The addition of Gates brings the size of the board to 10. The board has several high-profile figures from the business world, including Warren E. Buffett and former Hollywood mogul Barry Diller. Along with her husband, Melinda Gates is co-founder of the Bill and Melinda Gates Foundation, a health and educational charity.

* Eastman Kodak Co. said second-quarter profit rose 4.5% to $513 million, or $1.65 a share, in line with forecasts, as sales rose 3.9% to $3.75 billion. The photography giant said sales of consumer film rose, but its share of the U.S. market declined 1%. The company benefited from narrowing losses in its digital photography business. * Prodigy Communications Corp. said its second-quarter loss widened to $38.9 million, or 59 cents a share, from $11.

Washington Post Co. will follow the advice of billionaire investor Warren Buffett, its largest outside shareholder, by accounting for stock options as an operating expense, the company said Monday. Coca-Cola Co., which like the Washington Post counts Buffett as its top investor and a director, said Sunday that it will begin expensing options. Buffett has advocated including options as a cost on corporate income statements, to make financial reports clearer and more accurate.

Washington Post Co., owner of the namesake newspaper and rural cable-television systems, said it may be interested in buying cable assets from AT&T Corp. and Adelphia Communications Corp. The company has subscribers in Iowa, Idaho and other states where Adelphia or AT&T may sell cable systems, Tom Might, chief executive of Washington Post's Cable One unit, said in an interview. Cable One is the ninth-biggest U.S. cable company. AT&T and Adelphia, the No. 1 and No.